AVIRA RESOURCES LTD — Capital/Financing Update 2016

Aug 1, 2016

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CLOUD AND MARVEL – EXTENSION OF CUT- OFF AND MATURITY DATES

ASX Announcement 2 August 2016

ASX CODE

MGS

MGT Resources Limited (MGT) wishes to inform the market that Cloud Adventurer Limited (Cloud) and Marvel Network Limited (Marvel) have signed Variation Agreements agreeing to the following:

• The extension of the maturity date of the existing Cloud and Marvel Convertible Notes from 19 August 2016 to 16 September 2016.

ASX Release REGISTRY 2 August 2016

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ASX CODE

• The extension of the cut-off date of the existing Cloud and Marvel Preference Share Agreements, announced to the market on 3 June 2016, from 31 August 2016 to 16 September 2016.

This extension of time will better afford MGT the opportunity to continue seeking a further $1,000,000 in funding to meet the conditions of the Preference Share Agreements and MGT will make an announcement in relation to this, in due course.

A notice of meeting will be circulated to shareholders for the general meeting to approve the conversion of Cloud and Marvel Convertible Notes to Preference shares and Options, which is now anticipated being held in mid to late September 2016.

SHARES ON ISSUE MGS 483,066,131

REGISTRY

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Tin Price: US$17,902/t SHARES ON ISSUE Gold Price: US$1,329oz 483,066,131 U3O8 Spot Price: US$xx

MGT Resources Limited Suite 1305, Level 13, 109 Pitt Street Sydney NSW 2000 MGT Australia Resources Limited T: 61 2 9262 1122 Suite 1305, Level 13,F: 61 2 9299 5175 109 Pitt Street Sydney NSW 2000www.mgt.net.au info@mgt.net.au Australia